Investments to create local jobs through technology development, increased productivity and manufacturing process optimization
April 5, 2022 - North Bay, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Innovation and technology adoption are key to driving our economy forward as we recover from the impact of COVID-19. In Northern Ontario, through FedNor, the Government of Canada is investing to encourage innovation and the adoption of technology, while helping business to start up, scale up and create local jobs and opportunities for Canadians.
The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, today announced FedNor investments totaling $1,416,298 for two projects designed to fuel innovation and optimize business productivity. Funded through FedNor's Regional Economic Growth through Innovation Fund (REGI), these strategic initiatives are expected to create up to 19 local jobs in the short term, with the potential to create an additional 340 over the next five years.
As part of the announcement, North Bay start-up One Red Maple is receiving $916,298 to develop and launch an online platform to help small businesses enhance their digital presence and increase sales. Harnessing the power of the shop-local movement, the One Red Maple App will provide pop-up notifications that redirect consumers to local stores offering the same products as major online retailers. The platform uses Artificial Intelligence to identify inventory, match products or provide suggestions for similar items if an exact match can't be found locally. The platform currently features businesses from North Bay and will soon be expanded to include companies from across Northern Ontario and Canada. Once fully implemented, this strategic initiative will help increase the competitiveness of small businesses throughout the region, while creating up to 10 jobs and potentially 340 more over the next five years.
The remaining $500,000 will help Pilot Diamond Tools Ltd. modernize its manufacturing facilities and accelerate its transformation into a smart facility. Specifically, the funding will be used to purchase specialized equipment designed to increase productivity and optimize manufacturing processes, resulting in more competitive pricing and increased revenues. The project includes implementing a new Enterprise Resource Planning system (including E-commerce), fabricating and supplying an Atmospheric Chamber Furnace, as well as the purchase and installation of a Computer Numerical Control (CNC) lathe in combination with a CNC waterjet machine. Once complete, this priority project will help pave the way for sustainable growth, while creating nine full-time jobs and maintaining 19 more.
Northern Ontario has been hard hit by COVID-19 and today's announcement is further proof of the Government of Canada's commitment to support innovative businesses and start-ups so they can overcome the impacts of COVID-19, ramp up quickly, create jobs and fully participate in our economic recovery.
